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Well at the same time they also are a large component of the S&P500, and that's kind of a low risk-ish investment?

The question is more centered around something like a certain type of commodity being deemed as risky and volatile, but then switching into something that is considered stable.

I suppose an example would be the US bonds during WW2 where the US was starting to grow, but certainly wasn't considered as strong as England. US bonds were deemed more risky, but then transitioned into a more/most stable asset (since all of EU was in shambles)

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